Clearline Capital LP Acquires 544,087 Shares of Six Flags Entertainment Corporation $FUN

Key Points

• Clearline Capital LP dramatically increased its Six Flags stake in the fourth quarter, buying 544,087 additional shares and raising its holdings by 2,541.5% to 565,495 shares worth about $8.7 million.
• Institutional ownership remains high, with large investors like Vanguard, Morgan Stanley, UBS, and others also adding to positions; overall, institutions own about 64.65% of the stock.
• Analyst sentiment is mixed but leans cautious: the consensus rating is Hold with a target price of $25.15, while the stock recently traded at $24.98 after Six Flags reported better-than-expected quarterly revenue and EPS.

Clearline Capital LP boosted its holdings in shares of Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 2,541.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 565,495 shares of the company's stock after buying an additional 544,087 shares during the quarter. Clearline Capital LP owned approximately 0.56% of Six Flags Entertainment worth $8,675,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Six Flags Entertainment by 0.5% during the third quarter. Vanguard Group Inc. now owns 10,067,759 shares of the company's stock valued at $228,739,000 after buying an additional 53,111 shares during the period. Morgan Stanley grew its position in Six Flags Entertainment by 62.1% during the fourth quarter. Morgan Stanley now owns 9,473,532 shares of the company's stock valued at $145,324,000 after buying an additional 3,629,445 shares during the period. Darlington Partners Capital Management LP grew its position in Six Flags Entertainment by 20.2% during the second quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company's stock valued at $264,741,000 after buying an additional 1,460,000 shares during the period. UBS Group AG grew its position in Six Flags Entertainment by 533.4% during the fourth quarter. UBS Group AG now owns 5,279,720 shares of the company's stock valued at $80,991,000 after buying an additional 4,446,104 shares during the period. Finally, Dendur Capital LP grew its position in Six Flags Entertainment by 6.2% during the fourth quarter. Dendur Capital LP now owns 4,953,500 shares of the company's stock valued at $75,987,000 after buying an additional 290,000 shares during the period. 64.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FUN. Morgan Stanley set a $18.00 target price on shares of Six Flags Entertainment in a research report on Friday, February 20th. Wall Street Zen upgraded shares of Six Flags Entertainment from a "sell" rating to a "hold" rating in a research report on Sunday, May 24th. Weiss Ratings downgraded shares of Six Flags Entertainment from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, May 15th. Barclays raised their price objective on shares of Six Flags Entertainment from $22.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Six Flags Entertainment from $19.00 to $21.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $25.15.

Six Flags Entertainment Price Performance

Shares of NYSE:FUN opened at $24.98 on Thursday. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.62 and a current ratio of 0.68. The firm has a fifty day moving average price of $20.33 and a 200 day moving average price of $17.74. Six Flags Entertainment Corporation has a fifty-two week low of $12.51 and a fifty-two week high of $33.50. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -1.53 and a beta of 0.39.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($2.65) earnings per share for the quarter, topping analysts' consensus estimates of ($2.71) by $0.06. Six Flags Entertainment had a negative net margin of 52.76% and a positive return on equity of 5.17%. The firm had revenue of $225.63 million during the quarter, compared to analyst estimates of $207.49 million. As a group, sell-side analysts expect that Six Flags Entertainment Corporation will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Marilyn G. Spiegel bought 2,500 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average price of $19.10 per share, for a total transaction of $47,750.00. Following the completion of the transaction, the director owned 15,161 shares in the company, valued at $289,575.10. The trade was a 19.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard M. Haddrill bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $19.08 per share, with a total value of $190,800.00. Following the transaction, the insider owned 230,117 shares of the company's stock, valued at $4,390,632.36. The trade was a 4.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 265,000 shares of company stock worth $6,173,850. 2.10% of the stock is owned by insiders.

Six Flags Entertainment Profile

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.

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